Three lakh Indians working abroad may return to India by 2015

MUMBAI: India's rapidly growing economy is expected to start a reverse migration of its working diaspora currently settled abroad. About three lakh Indian professionals employed overseas may return to the country by 2015, said a recent report by US based Kelly Services, a global major in providing workforce solutions.

However, practicing HR professionals back home, argue the three lakh number is too high even as there is a growing possibility of reverse migration. The top three reasons for reverse migration between 2008 and 2011—in the aftermath of the global economic crisiswere job insecurity, personal growth opportunities in India and the call of the native land, said the Kelly survey.

India's strong showing in IT and robust domestic economy has allowed the country to provide better opportunities. A highly evolved higher education system and a huge pool of qualified scientist and engineers are some of the other positives highlighted in the survey findings.

"Talent migration has ceased to be just a phenomenon relevant to movement from emerging to developed economies. The sustained growth of India and the resilience it showed during the slowdown also has added dynamic transition and movement back to India," said Kamal Karanth, MD, Kelly Services India.

Accord India CEO Sonal Agrawal agreed there was increasing trend of overseas Indian professionals wanting to come back. "People are looking for opportunities in a fast-growing economy like India, especially since other developed markets have slowed down," Agrawal said. "Further, with compensation levels going up over the last few years, the wage differential between India and other developed nations is no longer glaring," she said.

ICICI Bank's K Ramkumar , an executive director who heads the HR in the country's largest private sector bank, would not agree with the three lakh figure. "I don't believe these numbers. Yes, there are Indians who want to come back to India, but it is difficult for them to adjust," Ramkumar said.

It was easier for a person who has been out of India for 2-3 years to come back, but not for someone who left the country 10 years ago, Ramkumar added. "What is more believable is 50,000-70,000 or even a lakh who could be interested in coming back.

Of these, at best, 10,000-15,000 could probably take that call and come back to India," he said. Ramkumar opined that most Indians settled abroad look for the same kind of quality of life in India, which they will not get. "Some even eye sweet deals which expats get at some companies. Again, a company will not offer sweet deals to select few,'' he said.